TIDMCDFF
RNS Number : 2998X
Cardiff Property PLC
04 May 2021
THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY
AND ITS SUBSIDIARIES
FOR RELEASE 7.00 AM 4 May 2021
THE CARDIFF PROPERTY PLC
LEI: 213800GE3FA4C52CIN05
The Group, including Campmoss, specialises in property
investment and development in the Thames Valley. The total
portfolio under management, valued in excess of GBP31m, is
primarily located to the west of London, close to Heathrow Airport
and in Surrey and Berkshire.
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHSED 31 MARCH 2021
Highlights:
Six months Six months Year
31 March 31 March 30 September
2021 2020 2020
(Unaudited) (Unaudited) (Audited)
Net assets GBP'000 28,818 28,135 29,099
Net assets per share GBP 24.45 23.03 24.36
Profit before tax GBP'000 365 387 1,959
Earnings per share
(basic and diluted) pence 25.96 24.90 148.20
Interim/total dividend
proposed per share pence 5.0 4.8 17.6
Gearing % Nil Nil Nil
Richard Wollenberg, Chairman, commented:
The Thames Valley property market continues to be affected by
the strict but necessary Government measures imposed as a result of
Covid-19.
Working from home and the closure of many retail outlets has led
to a marked reduction in letting and investment activity. Office
rental levels within the Thames Valley experienced a decline as
Landlords preferred to retain occupation of buildings. New lettings
inevitably included incentives with shorter lease terms reflecting
current uncertainty as to future occupation and trading.
For further information:
The Cardiff Property plc Richard Wollenberg 01784 437444
Shore Capital Patrick Castle 020 7468 7923
THE CARDIFF PROPERTY PLC
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHSED 31 MARCH 2021
INTERIM MANAGEMENT REPORT
Dear Shareholder,
The Thames Valley property market continues to be affected by
the strict but necessary Government measures imposed as a result of
Covid-19.
Working from home and the closure of many retail outlets has led
to a marked reduction in letting and investment activity. Office
rental levels within the Thames Valley experienced a decline as a
number of Landlords offered existing tenants concessionary terms.
New lettings inevitably included incentives with shorter lease
terms reflecting current uncertainty as to future occupation and
trading.
The Group's policy of meeting with tenants and where necessary
agreeing deferment of rental, assisted many to remain in business
and occupation. Business rates relief, furlough and VAT deferment
measures provided much needed support to those retailers either
unable to trade or having to deal with significant reductions in
turnover. The Group, including Campmoss, received the majority of
its rental income due at the half year, with only one small retail
unit being vacated.
Excluding development properties by value, 44% of the Group's
portfolio relates to the retail sector, 8% industrial premises, 15%
residential and 33% offices. The Group's retail portfolio includes
a number of food outlets and other essential businesses that
continued to trade during the lockdown periods. The majority of
business and office tenants continued trading with staff working
from home.
During the current financial year, a number of retail and
business unit leases have or are due to expire. It is encouraging
to note that, the success of the vaccine programme and with the
gradual easing of lockdown, these units have been re-let to
existing or new tenants at similar rental levels. The number of
enquiries received have been more than expected.
Overall, I expect group rental income for the current year to be
lower than last year with the eventual figure being influenced by
the imposition of any further lockdowns.
The Thames Valley residential market showed signs of slowing
down although at the half year all the Group's apartments were
fully let on Annual Assured Tenancy Agreements with rents remaining
similar to last year.
FINANCIALS
For the six months ending 31 March 2021, profit before tax
amounted to GBP0.37m (March 2020: GBP0.39m; September 2020:
GBP1.96m). This figure includes an after-tax profit from Campmoss
Property Company Limited ("Campmoss"), our 47.62% Joint Venture of
GBP0.04m (March 2020 after tax loss GBP0.03m; September 2020 after
tax profit GBP1.36m).
Revenue for the six months to 31 March 2021 represented by
rental income, totalled GBP0.32m (March 2020: GBP0.34m; September
2020: GBP0.65m). The Group's share of revenue from Campmoss was
GBP0.29m (March 2020: GBP0.32m; September 2020: GBP0.60m),
represented by rental income of GBP0.29m (March 2020: GBP0.32m;
September 2020: GBP0.60m). Rental income and sales figures for
Campmoss are not included in Group revenue.
Net assets of the Group as at 31 March 2021 were GBP28.82m
(March 2020: GBP28.14m; September 2020: GBP29.10m) equivalent to
GBP24.45 per share (March 2020: GBP23.03; September 2020:
GBP24.36). The Company's share of net assets in Campmoss included
on the Group balance sheet amounted to GBP16.36m. (March 2020:
GBP14.93m; September 2020: GBP16.32m). The directors have taken
into account recent RICS guidance and whilst there is currently a
greater level of uncertainty due to COVID-19 on balance, there are
no material changes in the investment value of the Group's property
portfolio as at 31 March 2021. The freehold investment properties
held by Cardiff will be professionally valued at 30 September
2021.
During the six months to 31 March 2021 the company purchased for
cancellation 22,750 Ordinary Shares (March 2020: 18,362 Ordinary
Shares; September 2020: 45,694 Ordinary Shares). There have been no
material events or material changes in assets liabilities or
related party relationships since 30 September 2020.
Current IFRS accounting recommends that deferred tax is
chargeable on the difference between the indexed cost of properties
and quoted investments and their current market value. However,
current IFRS does not require the same treatment in respect of the
group's unquoted investments in Campmoss, the 47.62% owned joint
venture, which represents a substantial part of the company's net
assets.
Whilst provision is made in Campmoss accounts for deferred tax,
should the shares held in Campmoss be disposed of, for indicative
purposes, based on the value in the company's balance sheet at 31
March 2021 this would result in a tax liability of GBP3.11m (March
2020: GBP2.84m; September 2020: GBP3.10m) equivalent to GBP2.65 per
share (March 2020: GBP2.29; September 2020 GBP2.60) calculated
using a tax rate of 19% (March 2020: 19%; September 2020: 19%).
This information is provided to shareholders as an additional,
non-statutory, disclosure.
DIVID
The directors have declared an interim dividend of 5.0p (interim
March 2020: 4.8p; final September 2020: 12.8p) an increase of 4.2%
which will be paid on 1 July 2021 to shareholders on the register
at 28 May 2021.
THE INVESTMENT & DEVELOPMENT PORTFOLIO
The Group's freehold property portfolio, including those held by
Campmoss, continues to be concentrated in the Thames Valley close
to Heathrow Airport and to the west of London.
Maidenhead Enterprise Centre, Maidenhead, comprises six
individual business units totalling 14,000 sq. ft. and remains
fully let on a mixture of short and medium term leases. Over the
next 18 months a number of rent reviews and lease expiries will
take place and it is encouraging to note that recent lettings have
been completed at higher rental levels.
The Windsor Business Centre, Windsor, comprises four business
units two of which are available for letting or freehold sale
following the expiry of leases. The Business Centre is located
close to the town centre and our agents are reporting a reasonable
flow of enquiries. Planning permission to replace the existing
building with an office scheme totalling 20,000 sq. ft. gross was
granted last year and implementation will be subject to achieving a
pre-letting.
The White House, Egham, comprises five ground floor retail units
with air-conditioned offices on the upper floor. Following the
expiry of leases, two of the retail units and part of the upper
floor offices are available for letting.
At Cowbridge Road, Cardiff, a new short-term lease has been
agreed with The Royal Mail, the current tenant. Following
negotiations with a local Housing Association a residential
planning application has been submitted with a decision targeted by
the end of the financial year.
Heritage Court, Egham, comprises four retail units all of which
are let. The upper floor residential units were previously sold.
The adjoining freehold office is occupied by the company and
following extensive refurbishment work, a residential property, at
14 Runnymede Road, Egham was sold during the period.
CAMPMOSS PROPERTY COMPANY LIMITED & SUBSIDIARIES
The Campmoss portfolio provides a range of office, retail and
residential properties in Burnham, Bracknell, Maidenhead and
Woking.
As mentioned earlier, a number of retail tenants remained open
during lockdown and it is encouraging that at the time of preparing
this report all are now open for trading.
At Britannia Wharf, Woking, the development of 52 high
specification apartments is on budget and timetable. Completion is
anticipated towards the end of the year and it is worth mentioning
that just under 50% of the apartments are under offer at asking
levels. The development is being undertaken through a joint venture
with an established Surrey based developer.
At Market Street, Bracknell, four adjacent buildings known as
1-10 Market Street, Alston House, Westview and Gowring House
comprise a mixture of ground and first floor retail units with
residential on the upper floors at Gowring House and Alston House.
The majority of apartments at Gowring House were previously sold
and the five remaining together with 12 apartments on the upper
floors at Alston House are all let on Assured Shorthold tenancies.
Three of the first-floor retail units at Alston House are available
for letting. As mentioned earlier the deferment of rent to a number
of the retail tenants has allowed their businesses to continue.
At Highway House, Maidenhead an updated planning application for
a 48,000 sq. ft. gross new Grade A office scheme is being prepared
and expected to be submitted shortly. Agents are seeking a partial
pre-letting. The site is let on a short-term basis for car
parking.
At The Priory, Stomp Road, Burnham, the 26,000 sq. ft. building
comprises 17,000 sq. ft. new office space over three floors and an
adjoining Business Centre occupying 9,000 sq. ft. Part of the
offices and Business Centre have been let on short term leases
pending the outcome of a planning application for a new care
home.
MANAGEMENT AND TEAM
In these unprecedented times management of the Group's portfolio
has been particularly challenging and I would take this opportunity
of thanking the team and our Joint Venture partner, Campmoss for
their support.
RELATIONSHIP AGREEMENT
The Company has entered into a written and legally binding
Relationship Agreement with myself, its controlling shareholder, to
address the requirements of LR9.2.2AR of the Listing Rules.
OUTLOOK
The Group has successfully navigated the recent challenges in
the property market and is well positioned to return to its
previous growth strategy, market conditions permitting.
A return to office working and visiting retail outlets will take
time to recover and in some locations, there may be permanent
changes. There is no doubt that the property market will need to
adjust to these new realities.
I look forward to reporting further at the year end.
J Richard Wollenberg
Chairman
30 April 2021
Condensed Consolidated Interim Income Statement
FOR THE SIX MONTHSED 31 MARCH 2021
Six months Six months Year
31 March 31 March 30 September
2021 2020 2020
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Revenue 322 338 650
Cost of sales (48) (45) (115)
______ ______ ______
Gross profit 274 293 535
Administrative expenses (258) (275) (497)
Other operating income 280 290 579
______ ______ ______
Operating profit before gains
on investment properties and other
investments 296 308 617
Fair value movement on revaluation
of investment properties - - (148)
______ ______ ______
Operating profit 296 308 469
Financial income 28 34 54
Profit on sale of investment - 74 74
Share of results of Joint Venture 41 (29) 1,362
______ ______ ______
Profit before taxation 365 387 1,959
Taxation (57) (78) (148)
______ ______ ______
Profit for the period attributable
to equity holders 308 309 1,811
______ ______ ______
Earnings per share on profit for
the period - pence
Basic and diluted 26.0 24.9 148.2
______ ______ ______
Dividends
Final 2020 paid 12.8p (2019: 12.5p) 152 155 155
Interim 2020 paid 4.8p - - 58
______ ______ ______
152 155 213
______ ______ ______
Final 2020 proposed 12.8p - - 153
Interim 2021 proposed 5.0p (2020:
4.8p) 59 59 -
______ ______ ______
59 59 153
______ ______ ______
These results relate entirely to continuing operations. There
were no acquisitions or disposals during these periods.
Condensed Consolidated Interim Statement of Comprehensive Income
and Expense
FOR THE SIX MONTHSED 31 MARCH 2021
Six months Six months Year
31 March 31 March 30 September
2021 2020 2020
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Profit for the financial period 308 309 1,811
Items that cannot be reclassified
subsequently to profit or loss
Revaluation of investments (19) (52) (55)
Items that may be reclassified subsequently
to profit or loss
Revaluation of other properties - - (14)
______ ______ ______
Total comprehensive income and expense
for the period attributable to equity
holders of the parent company 289 257 1,742
______ ______ ______
Condensed Consolidated Interim Balance Sheet
AT 31 MARCH 2021
31 March 31 March 30 September
2021 2020 2020
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Non-current assets
Freehold investment properties 5,410 6,000 5,857
Property, plant and equipment 230 282 228
Investment in Joint Venture 16,364 14,932 16,323
Other financial assets 1,076 886 925
______ ______ ______
Total non-current assets 23,080 22,100 23,333
_____ _____ ______
Current assets
Stock and work in progress 688 683 688
Trade and other receivables 234 183 238
Held to maturity cash deposits 1,054 2,714 1,748
Cash and cash equivalents 4,696 3,274 3,773
______ ______ ______
Total current assets 6,672 6,854 6,447
______ ______ ______
Total assets 29,752 28,954 29,780
______ ______ ______
Current liabilities
Trade and other payables (635) (613) (529)
Corporation tax (236) (111) (50)
______ ______ ______
Total current liabilities (871) (724) (579)
______ ______ ______
Non-current liabilities
Deferred tax liability (63) (95) (102)
______ ______ ______
Total non-current liabilities (63) (95) (102)
______ ______ ______
Total liabilities (934) (819) (681)
______ ______ ______
Net assets 28,818 28,135 29,099
______ ______ ______
Equity
Called up share capital 234 244 239
Share premium account 5,076 5,076 5,076
Other reserves 2,461 2,487 2,475
Investment property revaluation
reserve 1,273 1,814 3,139
Retained earnings 19,774 18,514 18,170
______ ______ ______
Shareholders' funds attributable
to equity holders 28,818 28,135 29,099
______ ______ ______
Net assets per share GBP24.45 GBP23.03 GBP24.36
______ ______ ______
Condensed Consolidated Interim Statement of Cash Flows
FOR THE SIX MONTHSED 31 MARCH 2021
Six months Six months Year
31 March 31 March 30 September
2021 2020 2020
(Unaudited) (Unaudited) (Audited)
GBP'000 GBP'000 GBP'000
Cash flows from operating activities
Profit for the period 308 309 1,811
Adjustments for:
Depreciation - 2 3
Financial income (28) (34) (54)
Share of loss/(profit) of Joint
Venture (41) 29 (1,362)
Profit on the sale of investments - (74) (74)
Fair value movement on revaluation
on of investment properties - - 148
Taxation 57 78 148
______ ______ ______
Cash flows from operations before
changes in
working capital 296 310 620
Acquisition of inventory and
work in progress - (8) (14)
Decrease/(increase) in trade
and other receivables 4 (44) (98)
Increase/(decrease) in trade
and other payables 106 (26) 1
______ ______ ______
Cash generated from operations 406 232 509
Tax paid 97 (97) (228)
______ ______ ______
Net cash flows from operating
activities 503 135 281
______ ______ ______
Cash flows from investing activities
Interest received 22 34 61
Dividend from Joint Venture - 643 643
Acquisition of investments, and
property, plant and equipment (19) (5) (13)
Acquisition of investments (169) (100) (100)
Proceeds from the sale of investments - 78 78
Proceeds from sale of investment 462 - -
property
Decrease in financial assets 694 370 1,336
______ ______ ______
Net cash flows from investing
activities 990 1,020 2,005
______ ______ ______
Cash flows from financing activities
Purchase of own shares (418) (199) (773)
Dividends paid (152) (155) (213)
______ ______ ______
Net cash flows from financing
activities (570) (354) (986)
______ ______ ______
Net increase in cash and cash
equivalents 923 801 1,300
Cash and cash equivalents at
beginning of period 3,773 2,473 2,473
______ ______ ______
Cash and cash equivalents at
end of period 4,696 3,274 3,773
______ ______ ______
Condensed Consolidated Interim Statement of Changes in
Equity
FOR THE SIX MONTHSED 31 MARCH 2021
Investment
Share property
Share premium Other revaluation Retained Total
capital account reserves reserve earnings equity
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
At 1 October 2019 248 5,076 2,535 1,814 18,670 28,343
Profit for the period - - - - 309 309
Other comprehensive
income - revaluation
of investments - - (52) - - (52)
Transactions with equity
holders
Dividends - - - - (155) (155)
Purchase of own shares (4) - 4 - (310) (310)
______ ______ ______ ______ ______ ______
Total transactions with
equity holders (4) - 4 - (465) (465)
______ ______ ______ ______ ______ ______
At 31 March 2020 244 5,076 2,487 1,814 18,514 28,135
Profit for the period - - - - 1,502 1,502
Other comprehensive
income - revaluation
of investments - - 38 - - 38
Revaluation of other
property - - (55) - - (55)
Transactions with equity
holders
Dividends - - - - (58) (58)
Purchase of own shares (5) - 5 - (463) (463)
______ ______ ______ ______ ______ ______
Total transactions with
equity holders (5) - 5 - (521) (521)
______ ______ ______ ______ ______ ______
Transfer on revaluation
of investment properties
- Cardiff - - - (148) 148 -
Transfer on revaluation
of investment properties
- Campmoss - - - 1,473 (1,473) -
______ ______ ______ ______ ______ ______
At 30 September 2020 239 5,076 2,475 3,139 18,170 29,099
Profit for the period - - - - 308 308
Other comprehensive
income - revaluation
of investments - - (19) - - (19)
Transactions with equity
holders
Dividends - - - - (152) (152)
Purchase of own shares (5) - 5 - (418) (418)
______ ______ ______ ______ ______ ______
Total transactions with
equity holders (5) - 5 - (570) (570)
______ ______ ______ ______ ______ ______
Transfer on revaluation
of investment properties
- Cardiff - - - (266) 266 -
Transfer on revaluation
of investment properties
- Campmoss - - - (1,600) 1,600 -
______ ______ ______ ______ ______ ______
At 31 March 2021 234 5,076 2,461 1,273 19,774 28,818
______ ______ ______ ______ ______ ______
Statement of Responsibility
FOR THE SIX MONTHSED 31 MARCH 2021
The directors are responsible for preparing the condensed
consolidated interim financial statements for the six months ended
31 March 2021 and they confirm, to the best of their knowledge and
belief, that:
-- the condensed consolidated set of interim financial
statements for the six months ended 31 March 2021 have been
prepared in accordance with IAS 34 - Interim Financial Reporting
and in accordance with the requirements of The Companies Act
2006;
-- the interim management report includes a fair review of the information required by:
a) DTR 4.2.7R of the Disclosure and Transparency Rules, being an
indication of important events that have occurred during the first
six months of the financial year and their impact on the condensed
set of interim financial statements and a description of the
principal risks and uncertainties for the remaining six months of
the year; and
b) DTR 4.2.8R of the Disclosure and Transparency Rules, being
related party transactions that have taken place in the first six
months of the current financial year and that have materially
affected the financial position or performance of the group during
that period; and any changes in the related party transactions
described in the last annual report that could do so.
J Richard Wollenberg, Chairman
Karen L Chandler, Finance director
Nigel D Jamieson, Independent non-executive director
30 April 2021
Notes to the Condensed Consolidated Interim Financial
Statements
FOR THE SIX MONTHSED 31 MARCH 2021
1. Basis of preparation
This condensed set of financial statements has been prepared in
accordance with IAS 34 - Interim Financial Reporting in conformity
with the requirements of The Companies Act 2006. The condensed set
of financial statements are unaudited.
The annual financial statements of the Group are prepared in
accordance with International Financial Reporting Standards
(IFRSs)in conformity with the requirements of The Companies Act
2006. As required by the Disclosure and Transparency Rules of the
Financial Conduct Authority, the condensed set of financial
statements has been prepared applying the accounting policies and
presentation that were applied in the preparation of the Group's
published consolidated financial statements for the year ended 30
September 2020.
The comparative figures for the financial year ended 30
September 2020 are not the Group's statutory accounts for that
financial year. Those accounts have been reported on by the Group's
auditor and delivered to the registrar of companies. The report of
the auditor was: unqualified; did not give any reference to any
matters to which the auditor drew attention by way of emphasis
without qualifying their report; and did not contain a statement
under sections 498 (2) or (3) of the Companies Act 2006.
Accounting policies
The condensed consolidated interim financial statements have
been prepared applying the accounting policies that will be applied
in the preparation of the Group's financial statements for the year
ended 30 September 2021.
Use of estimates and judgement
The preparation of financial statements in conformity with IFRS
requires management to make judgements, estimates and assumptions
that affect the application of accounting policies and the reported
amounts of assets, liabilities, income and expense. Actual results
may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing
basis. Revisions to accounting estimates are recognised in the
period in which the estimates are revised and in any future periods
affected. The key areas in which estimates have been used and the
assumptions applied are in valuing investment properties and
properties in the joint venture, in valuing available for sale
assets, in classifying properties and in the calculating of
provisions.
An external, independent valuer, having an appropriate
recognised professional qualification and recent experience in the
location and category of property being valued, values the
company's property portfolio at the end of each financial year. The
directors of the joint venture value its portfolio each year; such
valuation takes into account yields on similar properties in the
area, vacant space and covenant strength. The directors of the
group and joint venture review the valuations for the interim
financial statements.
A provision is recognised in the balance sheet when the Group
has a present legal or constructive obligation as a result of a
past event and it is probable that an outflow of economic benefit
will be required to settle the obligation. If the effect is
material, provisions are determined by discounting the expected
future cash flows at a pre-tax rate that reflects current market
assessments of the time value of money and, where appropriate, the
risks specific to the liability.
Going concern
The Group has sufficient financial resources to enable it to
continue in operational existence for the foreseeable future, to
complete the current maintenance and development programme and meet
its liabilities as they fall due. Accordingly, the directors
consider it appropriate to continue to adopt the going concern
basis in preparing these interim financial statements.
Notes to the Condensed Consolidated Interim Financial
Statements
FOR THE SIX MONTHSED 31 MARCH 2021 (continued)
2. Segmental analysis
The Group manages its operations in two segments, being property
and other investment and property development. Property and other
investment relate to the results for The Cardiff Property Company
Limited where properties are held as investment property with
Property Development relating to the results of First Choice
Estates Plc and Thames Valley Retirement Homes Limited. The results
of these segments are regularly reviewed by the Board as a basis
for the allocation of resources, in conjunction with individual
site investment appraisals, and to assess their performance.
Information regarding the results and net operating assets for each
reportable segment are set out below:
Property and Property Development Eliminations Six months
other investment 31 March
2021
(Unaudited)
Total
GBP'000 GBP'000 GBP'000 GBP'000
Rental income (wholly
in the UK) 230 92 - 322
Profit before taxation 260 105 - 365
Net operating assets
Assets 26,913 4,808 (1,969) 29,752
Liabilities (2,648) (255) 1,969 (934)
Net assets 24,265 4,553 - 28,818
Property and Property Development Eliminations Six months
other investment 31 March
2020
Total
2020
GBP'000 GBP'000 GBP'000 GBP'000
Revenue (wholly in
the UK) 245 93 - 338
Profit before taxation 202 185 - 387
Net operating assets
Assets 26,385 4,670 (2,101) 28,954
Liabilities (2,631) (289) 2,101 (819)
Net assets 23,754 4,381 - 28,135
Property and Property Development Eliminations Year September
other investment 2020
(Audited)
Total
2020
GBP'000 GBP'000 GBP'000 GBP'000
Rental income (wholly
in the UK) 468 182 - 650
Profit before taxation 1,686 273 - 1,959
Net operating assets
Assets 26,974 4,718 (1,912) 29,780
Liabilities (2,329) (264) 1,912 (681)
Net assets 24,645 4,454 - 29,099
"Eliminations" relate to inter segment transactions and balances
which cannot be specifically allocated but are eliminated on
consolidation.
The operations of the Group are not seasonal.
3. Taxation
The tax position for the six-month period is estimated on the
basis of the anticipated tax rates applying for the full year.
4. Dividends
The interim dividend of 5.0p per share will be paid on 1 July
2021 to shareholders on the register on 28 May 2021. Under
accounting standards this dividend is not included in the condensed
consolidated interim financial statements for the six months ended
31 March 2021.
5. Earnings per share
Earnings per share has been calculated using the profit after
tax for the period of GBP308,000 (March 2020: GBP309,000; September
2020: GBP1,811,000) and the weighted average number of shares as
follows:
Weighted average number of shares
31 March 31 March 30 September
2021 2020 2020
(Unaudited) (Unaudited) (Audited)
Basic and diluted 1,188,434 1,238,595 1,221,929
_________ _________ _________
Directors and Advisers
Directors Auditor
J Richard Wollenberg PKF Littlejohn LLP
Chairman and chief executive
Karen L Chandler FCA
Finance director Stockbrokers and financial advisers
Shore Capital
Nigel D Jamieson BSc, FCSI
Independent non-executive director
Secretary Bankers
Karen L Chandler FCA HSBC Bank plc
Non-executive director of wholly owned Solicitors
subsidiary
First Choice Estates plc Blake Morgan LLP
Charsley Harrison LLP
Derek M Joseph BCom, FCIS
Head office Registrar and transfer office
56 Station Road Neville Registrars Limited
Egham, TW20 9LF Neville House
Telephone: 01784 437444 Steelpark Road
Fax: 01784 439157 Halesowen
E-mail: webmaster@cardiff-property.com B62 8HD
Web: www.cardiff-property.com Telephone: 0121 585 1131
Registered office Registered number
56 Station Road 00022705
Egham, TW20 9LF
Financial Calendar
2021 4 May Interim results for 2021 announced
27 May Ex-dividend date for interim dividend
28 May Record date for interim dividend
1 July Interim dividend to be paid
30 September End of accounting year
December Final results for 2021 announced
2022 January Annual General Meeting
February Final dividend to be paid
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